Bringing together research on the situational determinants of risk propensity and on individual personality predispositions, Boettcher draws on findings from political science, psychology, economics, business, and sociology to develop a Risk Explanation Framework (REF) to study the ‘person in the situation’. Using structured, focused comparison, he examines six foreign policy cases from the Truman and Eisenhower administrations to explore how aspirations, fears, time pressures, and other factors influence risk taking. This is thus an important contribution to the study of international relations, foreign policy decision making, prospect theory and risk behavior, personality theory, and information processing.